Stock futures rebound slightly after Nasdaq falls for fourth straight session: Live updates

U.S. stock futures rose slightly Thursday as Wall Street tried to find some traction following another tough session. were up by 32 points, or 0.1%. and ticked higher by 0.1% each. Wall Street is coming off a dismal trading session, with the Dow losing nearly 300 points and the Nasdaq Composite posted its fourth straight loss.

The S&P 500 also fell sharply. Mega cap tech stocks such as are underperforming to start the year as overstretched valuations and uncertainty around when the Federal Reserve will begin to cut rates have investors worried that markets have gotten overly optimistic. Apple shares are down more than 4% this week.

The tech giant on Thursday was downgraded by Piper Sandler. This comes after Barclays lowered its rating on the tech giant on Tuesday. The recent performance on Wall Street comes in stark contrast to how the market ended 2023. The S&P 500 ended last year up more than 24% while enjoying its best weekly win streak going back to 2004.

"You've got positioning, you've got sentiment, all of that is pretty stretched," Anastasia Amoroso, chief investment strategist at iCapital, said on CNBC's " " on Wednesday. "And I think after this really strong finish to the year that we've had, we're just due for some of the give back." On the economic front, the is due out Thursday morning.

Economists polled by Dow Jones expect a rise of 130,000 last month, up from 103,000 the prior month. is set to release earnings Thursday before the open. Ford is increasing the price of some of its electric . For an entry level Pro model, the company is now charging at least $54,995, up from $49,995, For its Platinum Black, it raised starting prices to $97,995 from $92,995.

shares were up about 1% in the premarket. A private survey showed services activity continued to grow in China in December, with foreign demand for the country's services also rising. The Caixin China General Services Business Activity Index rose to 52.9 in December compared with 51.5 in November, climbing for a 12th straight month.

The survey also noted that the rate of growth was the fastest since July. "Growth momentum across China's service sector continued to revive at the end of 2023," according to the survey report. "Employment registered a subtle uptick as businesses exercised caution in hiring. But the slight expansion was sufficient to absorb new orders, keeping backlogs of work unchanged." A PMI reading above 50 indicates expansion in activity, while a reading below that level points to a contraction.

Business activity in Hong Kong's private sector improved at the fastest pace since April, according to S&P Global. rose to 51.3 in December, higher than the 50.1 seen in November. The S&P Global report noted that new business and output in Hong Kong returned to growth, though foreign demand conditions remained subdued.

"The improvement in overall sales nevertheless supported faster employment growth, while firms also raised their inventory holdings amid softening cost pressures," the report added. Shares of slid as much as 2% on Thursday, before recovering slightly as Japan's markets resume trading and react to the collision of a JAL flight at Tokyo's Haneda airport on Jan.

2. The crash occurred when the JAL flight 516 collided with a Japan Coast Guard aircraft, and claimed the lives of five of the six crew members aboard the Coast Guard plane. In a on Thursday to the Japan Exchange, JAL said that the estimated loss from the aircraft collision amounted to 15 billion yen (105 million), which will be covered by insurance.

Australia stocks continued to slide after hitting a record high earlier this week, falling to two week lows on Thursday. The fell 0.53% to trade near 7,495 — its lowest level since Dec. 19 — retreating from an all time high of 7,632.70 hit on Tuesday. Aussie markets fell, tracking a somber global mood after minutes of the meeting in December showed , but provided little clarity on when that might happen.

Bets that the Reserve Bank of Australia will no longer be raising rates have buoyed the country's stock market — but those hopes have been partly driven by the Fed's dovish shift. The strengthened 0.1% against the U.S. dollar in early trading. The December ADP private payrolls report that's set for release Thursday morning is expected to show companies added 130,000 workers last month, according to economists polled by Dow Jones.

That would be an increase from 103,000 the prior month. The report is due out 8:15 a.m. ET. Initial jobless claims, or the number of workers filing for unemployment benefits for the first time, is expected to have ticked up to 219,000 for the week ending Dec. 30, according to Dow Jones consensus estimates.

That would be slightly higher from the week prior, when initial claims totaled 218,000. The report is set for release 8:30 a.m. ET on Thursday. These companies are making the biggest moves in extended trading: Stock futures opened higher Wednesday night. rose by 49 points, or 0.13%. and climbed 0.12% and 0.13%, respectively..